HCL Tech Q2 net up 49%, declares 100% dividend

Software exporter HCL Technologies today said its net profit for the second quarter ended December 2008, grew 49 per cent at Rs 398.01 crore over the same period a year ago.

The company had a net profit of Rs 266.95 crore in the Q2 of last fiscal, HCL Technologies said in a filing to the Bombay Stock Exchange.

Total income of the IT firm rose to Rs 1,304.85 crore in the quarter under review from Rs 1,129.20 crore a year ago.

Besides, the board has declared an interim dividend of 100 per cent at the rate of Rs 2 per share.

"The last quarter has been significant for us. First HCL has inked contracts worth $1 billion in the last quarter, the biggest in its history... We have successfully integrated Axon as part of HCL to dominate the SAP globally," HCL Technologies CEO Vineet Nayar said.

For the six-month period ended December 31, 2008, HCL Technologies registered a net profit of Rs 651.80 crore, a 22.72 per cent growth over the same year-ago period.

It had a net profit of Rs 531.11 crore in the six-month period ended December 31, 2007.

Total income in the first half of the current financial year rose to Rs 2,480.65 crore from Rs 2,232.06 crore in the same period of the previous fiscal.

HCL Technologies today settled the day at Rs 107, down 4.85 per cent on the BSE.